News

Posted On: 06/19/2008

Patheon Moving Headquarters from Suburban Toronto to North Carolina

PharmaManufacturing.com

Drug manufacturer Patheon Inc. is moving its corporate head office from suburban Toronto to Research Triangle Park in North Carolina.

The company, currently headquartered in Mississauga, west of Toronto, said Wednesday that "there will be no impact to Patheon's significant regional presence in Ontario, Canada, where it operates four facilities with over 1,500 employees."

In addition to the head office, North Carolina gets a new Patheon analytical development laboratory to be located in Durham.

"The RTP and Durham locations are both rapidly growing centres for pharmaceutical manufacturing and service providers, offering a high availability of pharmaceutical scientists, access to customers, and an excellent quality of life for its residents with an affordable cost of living," stated Wes Wheeler, who took over in December as chief executive officer of Patheon, which lost US$8.5 million in its latest quarter on revenue of US$186 million.

"During the process, the state government offered some interesting business incentives, which helped the decision-making process a great deal."

Wheeler noted that Patheon gets about half of its revenue from U.S.-based companies, and added that the move "positions us to attract top talent from the industry."

The new head office is to be running within three months.